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Publication Date: 2023-03-28
Practice Area: Contractual Disputes
Industry:
Court: Delaware Supreme Court
Judge: Justice Valihura
Attorneys: For plaintiff: Steven P. Wood, Andrew S. Dupre, Travis J. Ferguson, McCarter & English, LLP, Wilmington, DE for appellant.
for defendant: Kevin M. Gallagher, Caroline M. McDonough, Richards, Layton & Finger, P.A., Wilmington, DE; Sarah A. Zielinski, Amy Starinieri Gilbert, McGuire Woods LLP, Chicago, IL for appellee.
Case Number: D70175
Chancery court correctly interpreted use of "and" in call right provision in employee option agreements as being several rather than conjunctive, where "and" was used in a permissive sentence and a conjunctive interpretation would render other provisions of the agreement surplusage.
Publication Date: 2023-01-31
Practice Area: Insurance Litigation
Industry: Insurance | Mining and Resources
Court: Delaware Supreme Court
Judge: Justice Seitz
Attorneys: For plaintiff: David J. Baldwin, Peter C. McGivney, Berger Harris LLP, Wilmington, DE; Martha Sheehy, Sheey Law Firm, Billings, MT; Kyle A. Gray, Holland & Hart LLP, Billings, MT for appellant.
for defendant: Kurt M. Heyman, Aaron M. Nelson, Heyman Enerio Gattuso & Hirzel, LLP, Wilmington, DE; Scott B. Schreiber, William C. Perdue, Andrew T. Tutt, Samuel I. Ferenc, Arnold & Porter Kaye Scholer LLP, Washington, D.C.; John C. Phillips Jr., David A. Bilson, Phillips, Mclaughlin & Hall, P.A., Wilmington, DE; Geoffrey W. Heineman, Jung H. Park, John J. Iacobucci Jr., Ropers Majeski, PC, New York, NY; John L. Reed, DLA Piper LLP, Wilmington, DE; Gregory F. Fischer, Cozen O’Connor, Wilmington, DE; Angelo G. Savino, Cozen O’Connor, New York, NY for appellees.
Case Number: 24, 2022
Superior court did not err in applying law of state of incorporation to resolution of directors' and officers' insurance coverage dispute where the policy applied to D&O liability across multiple jurisdictions, as state of incorporation had the strongest connection to the dispute.
Publication Date: 2023-01-31
Practice Area: Corporate Governance
Industry: Distribution and Wholesale | Pharmaceuticals
Court: Delaware Supreme Court
Judge: Justice Valihura
Attorneys: For plaintiff: David Teklits, Sara Barry, Morris, Nichols, Arsht & Tunnell LLP, Wilmington, DE; Jeffrey Alan Simes, Goodwin Proctor, LLP, New York, NY for appellants.
for defendant: Richard I.G. Jones, John G. Harris, Berger Harris LLP, Wilmington, DE for appellees.
Case Number: 184, 2022
The court affirmed the trial court's ruling that an irrevocable proxy did not run with majority shares and dismissed appellant's arguments that the court improperly relied on "extrinsic" evidence contained in the proxy's addendum as well as the Third Restatement, finding that the addendum fell within the proxy's four corners and that the law cited from the Third Restatement accurately reflected the same legal principles that were in place at the time the proxy was established.
Publication Date: 2023-01-03
Practice Area: Corporate Governance
Industry: Energy | Investments and Investment Advisory | Transportation
Court: Delaware Supreme Court
Judge: Justice Seitz
Attorneys: For plaintiff: William Savitt, Sarah K. Eddy, Adam M Gogolak, Wachtell, Lipton, Rosen & Katz, New York, NY; Daniel A. Mason, Paul, Weiss, Rifkind, Wharton & Garrison LLP, Wilmington, DE; Stephen P. Lamb, Andrew G. Gordon, Harris Fischman, Robert N. Kravitz, Carter E. Greenbaum, Paul, Weiss, Rifkind, Wharton & Garrison LLP, New York, NY; Srinivas M. Raju, Blake Rohrbacher, Matthew D. Perri, John M. O’Toole, Richards, Layton & Finger, P.A., Wilmington, DE; Rolin P. Bissell, Young Conaway Stargatt & Taylor LLP, Wilmington, DE for appellants.
for defendant: A. Thompson Bayliss, J. Peter Shindel, Jr., Daniel G. Paterno, Eric A. Veres, Samuel D. Cordle, Abrams & Bayliss LLP, Wilmington, DE for appellees.
Case Number: 2021-0700-PWG
Member controlling general partner in Master Limited Partnership was correct party to determine whether opinion of counsel to exercise call right was acceptable, meaning that general partner and related entities were exculpated from liability to limited partners due to the presumption of good faith in reliance on opinion of counsel imposed by the limited partnership agreement.
Publication Date: 2022-10-04
Practice Area: Contractual Disputes
Industry: Chemicals and Materials | Investments and Investment Advisory | Manufacturing
Court: Delaware Supreme Court
Judge: Justice Vaughn
Attorneys: For plaintiff: William M. Lafferty, Miranda N. Gilbert, John P. DiTomo, Lauren N. Bennett, Thomas P. Will, Morris Nichols Arsht & Tunnell LLP, Wilmington, DE; Robert N. Hochman, Heather Benzmiller Sultanian, Sidley Austin LLP, Chicago, IL; Eamon P. Joyce, Sidley Austin LLP, New York, NY; Andrew J. Rossman, Jonathon B. Oblak, Nicholas Hoy, Quinn Emanuel Urquhart & Sullivan, LLP, New York, NY for appellants.
for defendant: Christopher Viceconte, Gibbons, P.C., Wilmington DE; Jennifer A. Hradil, William S. Hatfield, Camille V. Otero, Joshua R. Elias, Gibbons, P.C., Newark, NY for appellees.
Case Number: 279, 2021
Court reversed Superior Court's ruling in a breach of contract case finding that the clear and unambiguous language of the stock-purchasing agreement allocated all off-site environmental cleanup liabilities to appellee.
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Publication Date: 2022-09-20
Practice Area: Trusts and Estates
Industry: Investments and Investment Advisory
Court: Delaware Supreme Court
Judge: Justice Montgomery-Reeves
Attorneys: For plaintiff: Sidney S. Liebesman, Beth B. Miller, Kasey H. DeSantis, Fox Rothschild LLP, Wilmington, DE for appellants.
for defendant: Andrea S. Brooks, Wilks Law, LLC, Wilmington, DE for appellee.
Case Number: 288, 2021
Distributions from statutory trust constituted the personal property of the holder of the beneficial interest and could therefore be subject to garnishment by the beneficiary's creditors.
Publication Date: 2022-09-06
Practice Area: Deals and Transactions
Industry: Investments and Investment Advisory
Court: Delaware Supreme Court
Judge: Justice Seitz
Attorneys: For plaintiff: Anthony A. Rickey, Margrave Law LLC, Wilmington, DE; Raffi Melkonian, Wright Close & Bargar, LLP, Houston, TX for appellant.
for defendant: Brian Farnan, Michael Farnan, Rosemary Piergiovanni, Farnan LLP, Wilmington, DE; A. Arnold Gershon, Michael A. Toomey, Barrack, Rodos & Bacine, New York, NY; Kevin G. Abrams, J. Peter Shindel, Jr., Matthew L. Miller, Abrams & Bayliss LLP, Wilmington, DE; Robert J. Giuggra, Jr., David M.J. Rein, Sullivan & Cromwell LLP, New York, NY; Kevin M. Gallagher, Richards, Layton & Finger, P.A., Wilmington, DE for appellees.
Case Number: D69949
Court reversed the chancery court's decision approving a litigation settlement which included forward-looking statements that bound absent interested parties from bringing claims in the future, in violation of the Due Process Clause.
Publication Date: 2022-08-30
Practice Area: Corporate Governance
Industry: Manufacturing
Court: Delaware Supreme Court
Judge: Justice Valihura
Attorneys: For plaintiff: Sean J. Bellew, Bellew, LLC, Wilmington, DE; Chris L. Gilbert, Gilbert PC, Dallas, TX for appellant.
for defendant: Richard P. Rollo, Travis S. Hunter, Renée Mosley Delcollo, Richards Layton & Finger, P.A., Wilmington, DE for appellee.
Case Number: D69938
Superior court erred in granting LLC judgment on claw back of indemnification where it failed to address defendant's allegations of bad faith by LLC in determining defendant's non-entitlement to indemnification.
Publication Date: 2022-08-09
Practice Area: Land Use and Planning
Industry: Chemicals and Materials | Manufacturing | State and Local Government
Court: Delaware Supreme Court
Judge: Justice Seitz
Attorneys: For plaintiff: Richard A. Forsten, Pamela J. Scott, Elizabeth S. Fenton, Saul Ewing Arnstein & Lehr LLP, Wilmington, DE; Stephen A. Swedlow, Athena D. Dalton, Quinn Emanuel Urquhart & Sullivan, LLP, Chicago, IL for appellant.
for defendant: Mary A. Jacobson, Nicholas J. Brannick, New Castle County Office of Law, New Castle, DE for appellee.
Case Number: D69910
Lack of proper notice of zoning amendment could not render challenge to county ordinance timely under statute of repose where tolling was not applicable to statutes of repose.
Publication Date: 2022-08-02
Practice Area: Corporate Governance
Industry: Investments and Investment Advisory | Technology Media and Telecom
Court: Delaware Supreme Court
Judge: Justice Montgomery-Reeves
Attorneys: For plaintiff: Gregory P. Williams, Brock E. Czeschin, Christian C.F. Roberts, Richards, Layton, & Finger, P.A., Wilmington, DE; John C. Dwyer, Patrick E. Gibbs, Claire A. McCormack, Cooley LLP, Palo Alto, CA for appellant.
for defendant: Seth D. Rigrodsky, Gina M. Serra, Herbert W. Mondros, Rigrodsky Law, P.A., Wilmington, DE; Frank R. Schirripa, Hillary Nappi, Hach Rose Schirripa & Cheverie LLP, New York, NY; Gregory Mark Nespole, Daniel Tepper, Levi & Korsinsky, LLP, New York, NY; Travis E. Downs III, Erik W. Luedeke, Robbins Geller Rudman & Dowd LLP, San Diego, CA; Thomas J. McKenna, Gregory M. Egleston, Gainey McKenna & Egleston, New York, NY; Beth A. Keller, Monteverde & Associates PC, New York, NY for appellees.
Case Number: D69906
Stockholders in §220 action could not rely on their own hearsay evidence to prove proper purpose where they refused to identify potential witnesses to permit the company the opportunity to conduct depositions.
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